Union Minister Kumaraswamy Discusses Revival of HMT in Bengaluru

Union Minister of Heavy Industries and Steel HD Kumaraswamy met with top officials of Hindustan Machine Tools (HMT) Ltd in Bengaluru to discuss the company’s revival. The meeting focused on aligning HMT’s recovery with Prime Minister Modi’s Atmanirbhar Bharat initiative.

Meeting Details

During the meeting, Minister Kumaraswamy had discussions with HMT’s Chairman and Managing Director Rajesh Kohli, along with other senior officials. They observed demonstrations and received comprehensive information about the company’s activities. The Minister reviewed details on turnover, net profit, and other key metrics, discussing the financial, production, and operational conditions of the company.

Challenges and Support

The once-glorious HMT is currently facing significant challenges. Minister Kumaraswamy emphasized the need to strengthen the company and instructed Rajesh Kohli to submit a proposal to the central government for necessary support. He encouraged the officials to adopt the vision of Atmanirbhar Bharat and lead the recovery efforts, assuring them of central government assistance.

Company’s Role and Future

HMT produces tools for the Department of Defense and space programs and has manufacturing units across the country. Minister Kumaraswamy suggested that the company should enhance its capacity. Chairman Rajesh Kohli outlined the various problems HMT is facing, including financial crises, lawsuits, and overall losses, stressing the need for central government intervention. In response, Minister Kumaraswamy promised to address these challenges.

Senior officials, including Kolar MP Mallesh Babu and company director Samina Kohli, were present at the meeting.